CALGARY, ALBERTA--(Marketwire - Feb. 8, 2013) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
Cancen Oil Canada Inc. ("Cancen" or the "Corporation") (TSX VENTURE:COI) announces that its board of directors has approved the grant of 300,000 stock options (the "Options") to Mr. Shankar Nandiwada, the Chief Financial Officer and Corporate Secretary of the Corporation, in accordance with the terms of the Corporations incentive stock option plan, subject to the approval of the TSX Venture Exchange Inc. The options were issued with an exercise price of $0.50 per common share and have a five year term.
Cancen is an energy services company that focuses on providing specialized services to upstream oil and natural gas companies operating in the Western Canadian Sedimentary Basin. The services provided by Cancen assist these companies with the treatment and sale of crude oil and the handling of by-products associated with oil and natural gas development and production. The services provided by Cancen include crude oil emulsion treatment, disposal of produced and waste water and terminalling for oil and blending.
Neither TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.